What is the difference between advice, information only and a personal recommendation?
Amongst other things the Finalised Guidance document FG15_1 ‘Retail investment advice: Clarifying the boundaries and exploring the barriers to market development’ looked to explain the differences.
Steve Bailey (ATEB director) recently undertook a critical and detailed examination of the paper for an article compiled for Adviser Business Review.
The article can be accessed here.
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It’s an important read. Firms looking at developing other distribution channels will need to be very careful in their approach. Innovation can create some excellent customer outcomes with the right level of investment and expertise, but beware, because there are some banana skins.
If you are in doubt please refer to your ATEB consultant or contact us here.
What needs to be considered when buying or selling an adviser firm?
The General Data Protection Regulation – or GDPR as it is more familiarly referred to, took effect in May 2018. Two years on, we thought it would be useful to do a quick review. The intention of the legislation was to protect data and privacy in the European Union and the European Economic Area. It […]
The FCA is aware that, as a result of the current health emergency, many firms are facing challenges in maintaining normal business processes, including dealing with consumer complaints.
The FCA has issued a statement that clarifies the position on complaint handling in the current circumstances. The full statement can be read here. The key points are summarised below.
How often have you heard that sentiment expressed by some compliance person? Interesting FOS decision The continued relevance of that statement was roundly confirmed by a recent FOS decision (ref. DRN4555535). In summary, the complaint related to a client who had been recommended to buy an annuity with a five year guarantee period. The client died […]
FCA extend SMCR period of absence
Alistair MacDougall Compliance COVID-19, FCA
The FCA has made a temporary modification to the rules around providing cover for an absent Senior Manager.